The sale of the St. Louis Blues to a group headed by minority owner Tom Stillman is finally ready to be announced.
According to an NHL source, Stillman has his financing and legal work in place and is just waiting for the right moment – probably when the Blues are finished in the NHL playoffs – to make the announcement. The final step will be the stamp of approval from the league’s board of governors, although that is not going to be a problem since Stillman is NHL commissioner Gary Bettman’s preferred buyer.
The purchase, thought to be for around $130-million (all currency U.S.), comes not a moment too soon. Two sources say the Blues’ debt situation is serious enough under current chairman Dave Checketts that the NHL has been paying the team’s bills, likely in the form of advances on its share of league revenues, since early January. The assistance may have ended in April when ticket money from the playoffs and season tickets for next season began coming in.